Copper weakens by 0.26% on global cues

Copper futures fell by 0.26% to Rs 419.60 per kg today as speculators trimmed their positions amid a weakening trend overseas.

At the Multi Commodity Exchange, the February contract for copper lost Rs 1.10, or 0.26%, to Rs 419.60 per kg, with a trading volume of 1,790 lots.

The April contract fell Re 1, or 0.23%, to Rs 425.65 per kg, with a trading volume of 732 lots.

The fall in copper futures prices was mostly due to a weakening trend at the London Metal Exchange as slow demand from top consumer China spurred caution among investors, analysts said.

Meanwhile, copper prices for three-month delivery fell 0.5% to $8,490 per tonne in early trade today at the LME.